In what is being touted as the biggest change to payroll reporting
since Super Stream, Single Touch Payroll is being rolled out by the
government from 1 July this year. The new technology is now live for
small and medium sized enterprise (SME) clients and partners
participating in MYOB’s beta trial for AccountRight.

The beta trial joins other MYOB products already enabled with Single
Touch Payroll such as MYOB Greentree, MYOB’s Enterprise business
software, that ran its first successful STP enabled pay run in
February 2018.

Ahead of target with beta in place this week

As of 1 July 2018, employers with 20 or more employees will be
required to report payments such as salaries and wages, pay as you go
(PAYG) withholding and superannuation information to the ATO directly
from their payroll solution at the same time they pay their employees.

MYOB has worked closely with the ATO to ensure its customers are
prepared for the first reporting deadline on 1 April 2018, where they
are required to nominate their employee numbers.

Last week, as part of the beta trial, a pay information was
successfully submitted to the ATO in line with the new requirements
for Single Touch Payroll compliance changes using MYOB
AccountRight.

MYOB COO Andrew Birch said the first report marks a critical
milestone for businesses in Australia.

“We know this is a big change for our customers and we have worked
hard to ensure the transition is as smooth as possible,” Mr. Birch
said.

“An important part of that is making sure our customers have plenty
of time to test out the new technology before the reporting
deadlines.”

MYOB also launched a ‘readiness check’ which validates that the
information being sent to the ATO will be picked up correctly. This
check informs the user if any details are missing or incorrect so they
can fix them in advance of the reporting deadline.

MYOB a leader in payroll solutions

“One in every four Australians has their pay calculated by MYOB
products,” Mr. Birch said.

“MYOB has worked very closely with the ATO and we have a
knowledgeable team on hand to help our customers through this
significant transition.”

More information on Single Touch Payroll can be found on the ATO
website.

MYOB Group Ltd (ASX: MYO) is a leading provider of online business
management solutions. MYOB makes business life easier for
approximately 1.2 million businesses across Australia and New Zealand
by simplifying accounting, payroll, tax, practice management, CRM, job
costing, inventory and more. MYOB operates across three core segments
– Clients and Partners (business solutions to SMEs and Advisers);
Enterprise Solutions (larger businesses) and Payment Solutions. It
provides ongoing support via many client service channels including a
network of over 40,000 accountants, bookkeepers and other
consultants. It is committed to ongoing innovation, particularly
through its Connected Practice Strategy and through the development of
the MYOB Platform. For more information, visit http://investors.myob.com.au/Investors
or follow @MYOB on Twitter.